Powered by MOMENTUM MEDIA
subscribe to our newsletter

ANZ chairman resigns, replacement announced

The major bank has announced the resignation of its chairman and the appointment of his successor.

ANZ has announced the retirement of David Gonski as chair of the group’s board, effective following the release of the banks full-year results on 28 October.

The outgoing chairman will be replaced by Paul O’Sullivan, who joined the group’s board in November 2019.

Mr Gonski, who has served as chair since 2014 and as a non-executive director for 11 years, said he believes it’s the right time to step down.

“I feel it’s the right time to hand over the reins,” he said.

Advertisement
Advertisement

“We have in place an experienced, diverse and talented management team as well as having made significant progress on our ambitions to simplify and improve our operations.”

Mr Gonski also welcomed the appointment of incoming chairman Paul O’Sullivan.

“I’m delighted Paul has agreed to succeed me as chairman,” he said.

“Paul is an outstanding director who has already made a strong contribution to ANZ, and I’m confident he will do an excellent job leading the board as we continue to work for the benefit of our shareholders.”

Mr O’Sullivan thanked Mr Gonski for his service to ANZ, adding: “David has made a significant contribution to ANZ over more than a decade of committed service. It has been a privilege to serve with him on the ANZ board and I look forward to succeeding him as chairman.

PROMOTED CONTENT


“While I know he will not be lost to public life and will continue to serve business and the community, David can be extremely proud of the contribution he has made to ANZ.”

Mr O’Sullivan concluded: “My focus as chairman will be to continue the work we have been doing over many years to improve our operations and simplify the bank to benefit not only the owners of our company but also our customers and our staff.

“The banking industry is at an important inflection point as we do all we can to help the economy recover from the impacts of COVID-19, and ANZ will remain committed to that cause.”

Mr O’Sullivan also currently serves as chairman of Optus, chairman of Western Sydney Airport Corp, and as a director of Coca Cola Amatil.

The new appointee has also previously held senior executive roles with Singapore Telecommunications (Singtel) and was CEO of Optus from between 2004 and 2012.

[Related: Optus chair joins ANZ board]

ANZ chairman resigns, replacement announced
ANZ chairman resigns, replacement announced
mortgagebusiness

Charbel Kadib

Charbel Kadib is the news editor on the mortgages titles at Momentum Media.

Before joining the team in 2017, Charbel completed internships with public relations agency Fifty Acres, and the Department of Communications and the Arts.

You can email Charbel on: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The big four bank has confirmed that it is rolling out a new program of work to increase the speed in which it provides unconditional approv...

The ASBFEO has called on government to fund a revenue-contingent loan scheme for SMEs to help them manage cash flow once support measures en...

The fintech’s debit card and pay facilities will come offline today following the neobank’s decision to exit the banking business. ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new mortgage lender enters the fray

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.